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Yudala Signals True Online/Offline Retail Revolution- Wigwe

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Another chapter was opened in Lagos on Saturday in the Nigeria’s online/offline retail chain with “bullish” Yudala, Nigeria’s first true composite retail chain, successfully launched its Offline Division.

Yudala made triumphant entry into the space with the official commissioning of two Experience Stores at Medical Road, Ikeja and The Palms, Lekki as well as two Smart stores on Idowu Martins Street, Victoria Island and Redemption Crescent, Gbagada.

According to Herbert Wigwe, group managing director and CEO of Access Bank Plc., who cut the tape to officially open the ExperienceStore at The Palms, Yudala is truly a retail revolution worth partnering with.

The well-attended event, which attracted Nigerians from all walks of life including bank CEOs, captains of industry, representatives of Corporate Nigeria and A-list artistes such as Iyanya and Naeto-C, saw huge crowds of excited shoppers taking advantage of the massive discounts and freebies on offer including free phones for every purchase above N20, 000.

Wigwe expressed delight Yudala has signaled a revolution in the Nigeria Mobile retailing sub-sector, adding that Yudala’s operational blueprints are confirmation to the beginning of a new dawn in the booming industry.

While Pa Sam Amuka-Pemu publisher of Vanguard Newspaper commissioned the experience stores at Medical Road, Ikeja, Wigwe, cut the tape during the opening at The Palms, Lekki on the same day.

According to who shared sight into why the financial institution’s threw weight behind the birth of a new dawn in the mobile industry and perspectives of open opportunities for Nigerian entrepreneurs in the industry urged retailers and entrepreneurs not to lose sight of the potential effects on the Nigerian economy which trade in digital mobile avails.

He said, “I am delighted to be here today to witness the launch of Yudala. The ambience is world class which gives a lot of hope that young Nigerian entrepreneurs are redefining standards. There is a lot to be excited about especially when you consider the huge impact Yudala will have on small businesses and households in the informal sector.

“We must also not lose sight of the potential effects on the Nigerian economy in extension. At Access Bank, we are empowering and expanding the capacity of SMEs and the emergence of Yudala certainly provides many areas of partnership which will undoubtedly rub off positively on this crucial sector,” he stated.

Sharing same line of thought, Mr. Sam Amuka-Pemu, said, “I must commend the ingenious inspiration behind the Yudala dream. Nigeria is ripe for the revolution in retail business which Yudala offers. Indeed, this is an idea whose time has come.

“The combination of an online shopping platform with retail stores in various locations in the country is a game-changer and will definitely open up previously unexplored possibilities and convenience for many Nigerians. We must also not forget the potential effect on the Nigerian economy through the numerous employment opportunities this business model will create. Yudala is a business with an eye on the future and I dare-say, we must all embrace it.”

According to the Management of the composite retail platform, Yudala Online is billed to go live in August, promising even bigger deals and unprecedented discounts at launch.

Mr. Stanley Uzoechina, vice president, Yudala Retail Stores, affirmed that Yudala is the answer to the demands of the 21st Century, with its emphasis on skill and style. In his view, Yudala is a huge platform which re-defines the concept of offline retail.

“First, we are bringing trust into the business space. When you buy Yudala, you are buying peace of mind as all our products are genuine and come directly from the Original Equipment Manufacturers. There is also the additional incentive of All Risks cover (except theft) from Sovereign Trust Insurance when you buy Yudala. We are the first business in which Management takes responsibility for every product bought from or delivered by us. This is Revolution.

“Also, we have a road-map to reach the millions of unreached Nigerians in the hinterlands and rural areas. Management and Board has approved the launch of 10 additional stores nationwide before the end of August 2015 and by June 2017, 151 Yudala Stores will go live. This figure will increase to 512 Stores by June 2019. In no time, there will be a Yudala Store in virtually every local government council in the country.

“After-sales support is another core area of the Yudala Revolution. You no longer have to endure uncertainties when you have a challenge with purchased products. We are providing support for both warranty and out-of-warranty products even for those bought from our Online Division with our in-house Tech Gurus at every Experience Store.

“We will gradually roll out other product lines including Consumer Lifestyle, Urbane Fashion, Healthy Living range, Consumer Electronics and many others in phases. Yudala is a platform for the biggest brands that will improve the lives of every Nigerian,” he concluded.

Uzoechina added that with a bold ambition to dictate the pace and set new milestones for online and offline retail business in Africa, Yudala is poised to deliver on its mandate and will create 100,000 job opportunities for young Nigerians in three years. “We will strive to continuously optimize our products and services to outstrip our customers’ expectations,” he said.

 


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Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

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Wema Bank Launches Second FGN-ALAT Digital ‘Skillnovation’ Cohort

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Wema Bank has launched the second cohort for the FGN-ALAT Digital Skillnovation Programme in partnership with the Federal Government to train and equip two million young people and 1 million MSMEs across Nigeria with relevant digital skills.

Since the launch of the first cohort in 2023, over 300,000 youths and business owners have leveraged the platform as a launchpad for their business and career success.

This cohort featured 100% virtual learning sessions through which participants from the 36 states in Nigeria and the Federal Capital Territory (FCT) were provided with self-paced online learning experiences.

As cohort 2 begins in the second quarter of 2024, the FGN-ALAT digital programme is officially transitioning to physical training sessions and the curriculum will cover key digital skills including software engineering, product management, business analysis, cloud computing and product design, among others.

This phase of the programme will be executed via FGN-ALAT digital hubs, which will be set up in the different states across the six geopolitical zones in Nigeria to ensure that every Nigerian can access the programme’s full benefits regardless of their location.

These hubs will be equipped with training and incubation facilities ideal for digital-driven learning, giving participants the opportunity to acquire marketable and transferrable digital skills and gain a competitive edge in the global digital ecosystem.

The FGN-ALAT digital hubs will be set up in phases and trainings will commence accordingly, starting with Borno  and Anambra State.

Wema Bank’s Executive Director of Retail and Digital Business, Tunde Mabawonku, emphasised the pivotal role of the programme in bridging the gaps in Nigeria’s macroeconomic landscape towards national development.

“We are unwavering in our commitment to supporting MSMEs and with the FGN-ALAT Digital Skillnovation Programme, it’s all about the bigger picture—which is why we have partnered with the Federal Government to augment the scale of this programme’s impact.

“By tailoring this programme to suit the needs of both entrepreneurial minded and professionally inclined Nigerians, we are not just arming SMEs for more efficient business management and growth, we are also equipping Nigeria’s workforce for increased productivity and the ripple effect will not only create more viable employment opportunities for Nigerians towards reduced unemployment and underemployment rates, but further drive economic growth and national development, boosting Nigeria’s position on the global playing field.

“The digital evolution is moving sporadically and by empowering our youth and MSMEs with in-demand digital skills, we are ensuring that Nigeria is not left behind as the world evolves.

“Beyond the intellectual resources and other non-monetary opportunities, we are going a step further to provide financial support for these participants in form of millions of naira in equity capital, soft loans and grants, to enable them put their learnings to practice and build sustainable streams of income that could help them become employers in their own right.

“I encourage you to take the big step forward in achieving your business and career goals by joining the programme. All you have to do is visit the website to register. This programme is completely free and there’s more than enough room for you. Your success is Nigeria’s success and as your unique journey unravels, our promise remains certain,” he said.

Referring to the programme as an eye-opener for all, Mariam Isah, a beneficiary of Cohort 1, said, “It’s almost unbelievable all I’ve learnt in one month virtual training.

“I started this training simply looking for a way forward for my business but I have unlocked secrets that are life changing not just in my business but in all aspects of life. I am so grateful for this rare opportunity, and I can’t wait to be a part of the cohort 2.”


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StarNews, Global Black Economic Forum Launch Business Competition In Partnership with MTN & USAID

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Africa’s leading video streaming platform, StarNews Mobile and the Global Black Economic Forum (GBEF), have announced a call for applications for the launch of their Business Competition in Lagos, Nigeria.

Held in partnership with MTN and United Nations Agency for International Development (USAID), the initiative will empower Nigeria’s most promising businesses that are classified as Small-Medium Enterprises (SMEs) with invaluable investment and partnership opportunities from the USA.

Held over 10 weeks between April 8th to June 14th, hosted exclusively on the StarNews Biz Channel on the StarNews platform, this competition offers a platform for emerging entrepreneurs to showcase their ventures and gain national visibility.

With subscribers voting for their favourite candidates, the top 20 contestants will seize the spotlight and make their mark on the business landscape.

The StarNews Business Competition in partnership with GBEF delivers a unique opportunity for thriving Nigerian SMEs to access mentoring, funding, partnerships and socio-economic development tools through the Global Black Economic Forum.

With the prospect of securing cash prizes through StarNews worth up to NGN5,000,000, getting access to StarNews’s network of investors and the opportunity to gain national visibility by having their business on the StarNews web platform.

The top three winners will also receive coaching from GBEF’s Academy for Advancing Excellence and become part of GBEF’s ecosystem of global leaders committed to social and economic justice across the Black Diaspora.

Previous speakers at GBEF convenings from the entertainment sector include Wyclef Jean (Haitian Musician & Activist), Debra Lee (Former CEO of Black Entertainment Television – BET) and Ceci Kurzman (Founder of Nexus Management Group). Applications will close on April 5th 2024.

Speaking on the competition’s launch, Guy Kamgaing, Founder and CEO at StarNews Mobile, says “The StarNews Business Competition is a passion project close to our hearts at StarNews Mobile.

It’s about discovering the most promising business entrepreneurs and creators in Nigeria, opening up global opportunities for them and providing them with the resources and tools to achieve their goals.

By partnering with MTN, USAID and GBEF, we want to be a platform of empowerment for these SMEs by helping them give back to the communities that are supporting them.”

According to the US Embassy and Consulate for Nigeria, over 80% of Nigerian startups are incorporated in the United States and more than 60% of venture capital funding in Nigerian startups accounted for by the US.

In 2023 alone, Nigerian startups raised a total of $398mn however, this signalled a 66% funding decline compared to 2022 due to the global economic downturn, reinforcing the massive need for a fresh injection of capital and business support for Nigeria’s emerging SMEs.

Alphonso David, President and CEO of the Global Black Economic Forum notes that, “Our partnership with StarNews Mobile is a critical resource as we continue to build the collective strength of entrepreneurship across the Diaspora.

“Building a sustainable ecosystem of Black entrepreneurs in the United States and across the African continent is essential to create a future that makes economic opportunity and economic freedom a reality for all.”

A sister company to ESSENCE, GBEF advances its work by convening global summits and conferences, bringing together world leaders, business leaders, entrepreneurs, celebrities and civic leaders to address the most challenging problems facing our communities.

GBEF’s Academy for Advancing Excellence facilitates workforce and leadership development strategy, addressing the talent pipeline & employee lifecycle, providing leadership development & coaching, and conducting institutional assessments & research.

GBEF also develops and implements economic and social justice policy recommendations with partners ranging from civil and human rights organisations to government entities and corporations that advocate for economic opportunity, social justice, and health equity through thought leadership, advocacy and litigation.

Launched in 2017, StarNews Mobile empowers African content creators with the unique opportunity to monetize their work through a subscription model, boasting over 4 million subscribers and a thriving community of more than 120 content creators.

With a strong presence across six countries including Cameroon, Nigeria, Côte D’Ivoire, Congo, Benin and Ghana, the platform has also established key partnerships with major telecom operators such as MTN and Orange.

To-date, StarNews Mobile has secured over $8mn in funding with its most recent raise – a $3mn pre-Series A funding round in October 2023 – led by Janngo Capital with participation from French football players Aurélien Tchouaméni, Jules Koundé and Mike Maignan.

 


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Companies Invest More than $100,000 Yearly to Upskill their Cybersecurity Teams – Study Reveals

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Over 70% of businesses pay more than USD $100,000 for additional training annually to keep skills of their cybersecurity employees up to date, a recent global Kaspersky study has revealed.

However, the surveyed companies also highlighted that there was a lack of relevant courses covering new challenging spheres in the educational market and stated that training does not always bring them the expected result.

In its recent study ‘The portrait of the modern Information Security professional’, Kaspersky examined the topic of the global cybersecurity staff shortage, analysing the exact reasons businesses lack cybersecurity experts, and identifying the ways they evaluate and upskill their cybersecurity workforce¹.

According to the research, companies are investing significant amounts in upskilling their cybersecurity teams: 43% of organisations globally say they usually spend between $100,000 and $200,000 per year on information security courses, while 31% even invest over $200,000 for training programs. The remaining 26% state they usually pay less than $100,000 for educational initiatives².

However, cybersecurity practitioners also note that the educational market is struggling to keep up with the rapidly changing industry and fail to deliver the necessary training programs on time.

Survey results for the Middle East, Turkiye, Africa (META) region shows that the scarcity of courses covering new challenging spheres (48%) was the main problem for those searching for cybersecurity training.

50% of respondents from the META region also stated that trainees tend to forget what they learned because they had no opportunity to apply newly acquired knowledge, therefore the courses were useless to them.

The need for special training pre-requisites such as coding and advanced mathematics, which were not specified at the pre-registration stage were also problematic for 37% of practitioners from the META region.

“With a constantly evolving threat landscape, businesses should continually improve the skills of their cybersecurity personnel in order to be well prepared for sophisticated cyberattacks.

“Developing high-profile specialists within the company and building internal expertise can be an effective strategy for organisations that aim to retain existing employees and allow them to grow professionally, instead of constantly hunting for new candidates and checking their professional backgrounds and practical skills.

“For organisations served by Managed Service Providers it is also important to maintain a pretty high level of expertise internally and use the same language when discussing the scope of services and Service Level Agreement with them,” comments Veniamin Levtsov, VP, Center of Corporate Business Expertise at Kaspersky.


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